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Global Exterior Automotive Plastics Market: Size, Growth, Key Drivers, and Emerging Trends
Exterior Automotive Plastics Market Size
What Is The Projected Market Size Of The Global Exterior Automotive Plastics Market And Its Growth Rate?
The exterior automotive plastics market has been undergoing robust growth and it's projected to grow further:
• The market size is expected to grow from $12.7 billion in 2024 to $13.47 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.1%.
• The market size is anticipated to reach $17.38 billion in 2029 at a CAGR of 6.6%.
What Is Driving The Growth In The Exterior Automotive Plastics Market?
The boost in the exterior automotive plastics market growth is fuelled by the rising demand from the automotive industry. The industry comprises the production and sales of hybrid vehicles, motorcycles, and passenger vehicles among others. Exterior automotive plastics are essential in creating various exterior parts of vehicles such as grilles, bumpers, body panels, trim, and mirrors. These plastics are favored over traditional materials like aluminum or steel as they offer more durability and are lightweight and corrosion resistant. For instance, according to a report by the European Automobile Manufacturers Association, a Belgium-based trade association, there was a production of 85.4 million motor vehicles worldwide in 2022, a rise of 5.7% compared to 2021. This increased demand from the automotive industry is a critical driver for the expansion of the exterior automotive plastics market.
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Who Are the Key Players Driving Exterior Automotive Plastics Market Growth?
Key players shaping the global exterior automotive plastics market growth are as follows:
• Arkema S.A.
• BASF SE
• Borealis AG
• DuPont de Nemours Inc.
• Royal DSM N.V.
• Evonic Industries AG
• ExxonMobil Corporation
• Lanxess
What Are The Key Trends In The Exterior Automotive Plastics Market?
Prominent market trends include:
• Technological advancements in feed formulation
• Traceability and transparency
• Adoption of digital technologies
• Innovations in feed additives
• Sustainable sourcing
What Are The Segments Of The Global Exterior Automotive Plastics Market?
The global exterior automotive plastics market report is segmented by:
• Type: Thermoplastic polymers, Composites, and Bioplastics
• Vehicle Type: Commercial Vehicles, Passenger Cars and Other Vehicle Types
• Material: Polypropylene, Polyurethane, Polyethylene, Polyamide, Polycarbonate, and Polyvinyl Chloride among other materials
• Application: Lights, Bumpers, and Grills, Roof, Liftgate and other applications
Which Region Leads The Exterior Automotive Plastics Market?
The Asia-Pacific region led the market in exterior automotive plastics in 2024. Other regions analyzed in the exterior automotive plastics market report are Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Exterior Automotive Plastics Market Global Market Report?
- Market Size Analysis: Analyze the Exterior Automotive Plastics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Exterior Automotive Plastics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Exterior Automotive Plastics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Exterior Automotive Plastics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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